AI giant Anthropic will commit 5% of its shares to a 'public benefit' fund ahead of a possible $1tn listing
The fund may distribute direct payments to workers displaced by AI, as well as large charitable donations. Each time the company's valuation rises by 50% above an undisclosed baseline, its board could allocate an additional 2% of shares. Stockholder approval is required, and the fund is barred from using shares for lobbying or political donations. Anthropic recorded $16.8bn in revenue for the three months to September.
Elon Musk replied: 'I recommend giving the shares directly to the public.'
Its stock market filing reportedly warned AI could pose 'catastrophic or existential risks to humanity'.
The new fund would bring the share of Anthropic equity directed toward public purposes to around 20%.
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